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What items do I add up to get my current asset and notes payable (long term) on a balance sheet Required Information [The following information
What items do I add up to get my current asset and notes payable (long term) on a balance sheet
Required Information [The following information applles to the questions displayed below.] Laser Delivery Services, Incorporated (LDS), was Incorporated January 1. The following transactions occurred during the year: a. Recelved $37,000 cash from the company's founders in exchange for common stock. b. Purchased land for $11,000, signing a two-year note (Ignore Interest). c. Bought two used dellvery trucks at the start of the year at a cost of $13,000 each; pald $4,000 cash and signed a note due in three years for $22,000 (ignore interest). d. Pald \$1,200 cash to a truck repalr shop for a new motor, which increased the cost of one of the trucks. e. Stockholder Jonah Lee pald $260,000 cash for a house for his personal use. 4. Prepare a classified balance sheet for Laser Delivery Services at December 31. Include Retained EarnIngs on the balance sheet even though the account has a zero balanceStep by Step Solution
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